If you’re saving for a holiday, or just wanting to kickstart your savings in general, the Aussie mums from Mums Who Budget & Save have a hack for you.
Dubbed the 52-week Challenge, the savings hack will see you put away an extra $1,378 each year just by saving an amount equivalent to the week of the year.
For example, in week one, you only have to save $1.00. In week two, you’ll save $2.00, in week 21, you’ll save $21 and so on.
One Aussie mum shared her savings to the Facebook group.
“Started the 52 week savings challenge this time last year,” she said. “Finally made it! $1378. This is going towards our next overseas holiday. Now to start the next one.”
Commenting on the post, one mum said the challenge helped out during the holiday period.
“I did this one a couple of years ago...made for a great Chrissy!” She said.
“I have done this (and still doing it to this time). Every $10 note I’ve got I put them aside, and I didn’t realise I’ve saved nearly $4k. Every cent counts,” another said.
Also read: How to save $100,000 in 3 years
One mum decided to do it this year too, and saved $990 so far.
“Only 8 weeks to go and I’ll have $1,378.”
Another said she was inspired to do the challenge herself.
“I’m going to start this tomorrow! My partner can too then we’ll have double the money.”
The coke bottle savings challenge
Other mums commented on the post saying they were planning on completing the “coke bottle challenge,” which is just putting $2 coins in a coke bottle until its full.
“I plan on doing both,” one mum said.
In a 250mL coke bottle, you can save $350, and in a 600mL you can save $880.
If you’re keen to level up, filling up a 1L coke bottle with $2 coins would equate to $1,510 and a 1.25L bottle would equate to $1,830.
“I only have $78 in mine so far but it’s only been a week,” one mum said.
“I’m on my 3rd bottle been doing it for years, it becomes addictive.”
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